Additionally, results improved over the prior year quarter due to increased business volume and travel activity primarily at the Las Vegas Strip Resorts The current quarter benefited from the inclusion of the operating results of The Cosmopolitan of Las Vegas ("The Cosmopolitan") and Aria and Vdara (collectively "Aria") upon acquisition in May 2022 and September 2021, respectively. Second Quarter 2022 Financial Highlights:Ĭonsolidated net revenues of $3.3 billion compared to $2.3 billion in the prior year quarter, an increase of 44%. We remain focused on achieving our vision to be the world's premier gaming entertainment company." We look to the future with optimism, as our convention and event calendar for the next year remain notably strong and BetMGM continues to be a market leader with a roadmap for growth. "We announced several important portfolio changes during the quarter, with the acquisition of the operations of The Cosmopolitan of Las Vegas and the announcement of the sale of Gold Strike Tunica. "Our second quarter results were outstanding, representing the best ever Adjusted Property EBITDAR quarter at the Company's Las Vegas Strip Resorts and best second quarter Adjusted Property EBITDAR at our Regional Operations driven by consistent strong demand from the leisure consumer and a return from our convention customers," said Bill Hornbuckle, Chief Executive Officer and President of MGM Resorts International. 3, 2022 /PRNewswire/ - MGM Resorts International (NYSE: MGM) ("MGM Resorts" or the "Company") today reported financial results for the quarter ended June 30, 2022. ![]() Repurchased $1.1 billion of shares of common stock during the second quarter, or 8% of outstanding sharesĬontinue to pursue a commercial gaming license in New York and development of an Integrated Resort in Osaka, Japan Record Las Vegas Strip Adjusted Property EBITDAR and record second quarter Regional Operations Adjusted Property EBITDARĪcquired the operations of The Cosmopolitan of Las Vegas announced the sale of the operations of Gold Strike Tunica for $450 million
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